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Iran’s rial currency hits record low as shaky ceasefire with US and Israel holds
Experts say the currency slide will deepen inflation as imported food, medicine and other essentials become more expensive.
- Iran's national rial currency hit a record low of 1.8 million to $1 on Wednesday as a shaky ceasefire with the U.S. and Israel still holds.
- The war began Feb 28, adding significant strain to state finances and businesses, while an American blockade continues pressuring the economy by intercepting key oil shipments.
- Previously, the rial weakened from about 1.4 million to 1.6 million to the dollar in less than a week, deepening public anger over rising prices and economic fears.
- Experts warn the fall of the rial will likely fuel further inflation in Iran, where many imported goods from food to electronics remain affected by the dollar rate.
- Decades of sanctions have left Iran facing chronic inflation and a widening gap between official and open-market exchange rates, complicating the country's economic future.
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Cryptocurrency News | Cryptocurrency Prices | Market CapTrump tightens US naval blockade as Iranian rial collapses to record low
The latest drop follows a currency shock several months ago, when the rial fell from around 1.4 million to 1.6 million per US dollar in under a week, as the war moves turns into an economic clash to exhaust the Iranian regime' options.
Los Angeles TimesReposted by 
Vanguardia
VanguardiaIran's currency, the rial, fell on Wednesday to a historic minimum while a U.S. naval blockade increases pressure on the already hit Iranian economy in the midst of a fragile ceasefire.
·Los Angeles, United States
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Total News Sources92
Leaning Left24Leaning Right11Center28Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 38%
C 44%
R 18%
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